Neoen sale to Brookfield finalized

Brookfield reached an agreement on June 24, 2024, to acquire 53.12% of Neoen’s shares at 39.85 euros per share from major shareholders, including Impala, ISALT’s Fonds Stratégique de Participations, Cartusia, and Xavier Barbaro. This “Block Acquisition” followed Neoen’s consultation with its works council. Additionally, Brookfield secured a tender agreement with Bpifrance, committing to tender all its Neoen shares, representing 4.36% of the share capital, in a forthcoming tender offer post-Block Acquisition. Initially announced on May 30, 2024, the deal is pending regulatory approvals, including antitrust and foreign investment clearances, expected by Q4 2024. Brookfield aims to launch the tender offer for the remaining shares and convertible bonds in Q1 2025.